Cost Accounting.. help needed for everything left blank or marked with a red X

Operating Budget, Comprehensive Analysis Ponderosa, Inc, produces wiring harness assemblies used in the production of semi-trailer trucks. The wiring harness assemblies are sold to various truck manufacturers around the world. Projected sales in units for the coming five months are given below January February March April May The following data pertain to production policies and manufacturing specifications followed by Ponderosa: 10,000 10,600 13,400 16,000 18,500 a. Finished goods inventory on January 1 is 900 units. The desred ending inventory for each month is 20 percent of the next month's sales. b. The data on materials used are as follows: Per-Unit Usage Unit Cost Direct Material Part #K298 Part #C30 Inventory policy dictates that sufficient materials be on hand at the beginning of the month to satisfy 30 percent of the next month's production needs. This is exactly the amount of material on hand on January 1. $4 c. The direct labor used per d. Overhead each mon unit of output is one and one-half hours. The average direct labor cost per hour is $20. th is estimated using a flexible budget formula. (Activity is measured in drect labor hours.) Fixed Cost Variable Cost Fixed Cost Variable Cost Supplies Power Maintenance Supervision Depreciation Taxes Other $1.00 0.20 1.10 12,500 14,000 45,000 4,300 86,000 1.60 e. Monthly selling and administrative expenses are also estimated ung a flexible budgeting formula. (Activity is measured in units sold.) Fixed Costs Variable Costs Salaries Commissions Depreciation Shipping Other $ 88,500 $1.40 25,000 3.60 1.60 137,000 f. The unit selling price of the wiring harness assembly is $110. g. In February, the company plans to purchase land for future expansion. The land costs $68,000. h. All sales and purchases are for cash. The cash balance on January 1 equals $62,700. The firm wants to have an ending cash balance of at least $25,000. If a cash shortage develops, sufficient cash is borrowed to cover the shortage and provide the desired ending balance. Any cash borrowed must be borrowed in $1,000 increments and is repaid the following month, as is the interest due. The interest rate is 12 percent per annum. Prepare a monthly operating budget for the first quarter with the following schedules: 1. Sales budget Januay Total uary March 10,000 V 110 1,100,000 Units 10,600V 13,400 34,000v Unit selling price 1101 110 V Sales 1,166,000 | 1,474,0d$ 3,740,000 Feedback Y Check My Work See Cornerstone 8.1. 2. Production budget January February March Total 10,000 10,60013,400 34,000 Unit sales Desired ending inventory 2,100X 2,120 | X 12,720x 2,000 X 2,680 X 16,080 X 2,120 x 6,800 X Total needed 12,000 40,800x Less: Beginning 900 2,680 X inventory 38,120 X 11,100 X Units produced 10,720 x 13,960X 3. Direct materials purchases budget anuary March Part K298 Part K298 Part C30 Part C30 Part K298 11,100x produced 11,100 13,960 10,720 10,720 13,960 Dir. mat. per unit Production needs Desired EI 41,880x 22,200x 33,300 X 27,920 x 21,440x 32,160x 27,920 Total needed 22,200 X 33,300x 21,440X 32,160 x 9,6481 6,660 x 9,990 | X 12,564 X Less: BI Dir. mat. to purchase Cost per unit 23,310X 15,008 22,512 x 19,544) 29,316 x 15,540x rotal purdise6210 103,170x60.0157584x 70.176203,212 x Total purchase 57,584x 78,176 X 205,212X 60,032 X 163,170 , 1 60 1 x cost 4. Direct labor budget. Round your answers to two decimal places, if required 35,780 0 11,100X 1.5 V 16,650x 20 V 333,000 x 10,720X 1.5 V 16,080 x 20 v 321,600x 13,960X Units to be produced Direct labor time per unit (hrs.) 53,670x 20,940 x 20 V 41 8,800 1 x Total hours needed Wages per hour 1,073,400X Total direct labor cost 5. Overhead budget. Round your answers to two decimal places, if required. lanmsary February March Total Budgeted direct labor hours Variable overhead rate Budgeted var overhead Budgeted fixed overhead 16,080x 53,670 X 16,650 20,940x Total overhead cost 6. Selling and administrative expense budget. Round your answers to the nearest cent, if required. March Februany Total January Planned sales Variable selling & administrative expense per unit Total variable expense Fixed selling & administrative expense: Salaries Depreciation Other Total fixed expenses Total selling & administrative expenses 7. Ending finished goods inventory budget. Round intermediate cakculations to the nearest cent. Round your answers to the nearest cent, if required. Unit cost computation Direct materials: Part K298 Part C30 Direct labor Overhead: Variable Fixed Total unit cost Number of units Finished goods 8. Cost of goods sold budget Direct materials used Part K298 Part C30 Direct labor used Overhead Budgeted manufacturing costs Add: Beginning finished goods Goods available for sale Less: Ending finished goods Budgeted cost of goods sold 9. Budgeted income statement (ignore income taxes) Less: Cost of goods sold Gross margin Less: Selling and administrative expense Income before income taxes 10. Cash budget Enter a negative balance as a negative amount, and if an amount is zero enter "o" February March January Beginning balance Cash receipts Total cash available Disbursements: Purchases DL payroll Overhead Marketing & admin Land Total disbursements Ending balance Financing: Borrowed/repaid Interest paid Ending cash balance